Walmart Canada to Use GenDrive Fuel Cells From Plug Power
22 Giugno 2010 - 1:00PM
Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean,
reliable energy solutions, today announced that its GenDrive™ fuel
cell units will power Walmart Canada's fleet of electric lift
trucks at the company's sustainable refrigerated distribution
center in Alberta, Canada.
The GenDrive systems will be integrated into trucks manufactured
by Crown Equipment Corporation. Both perishable and freezer goods
will be distributed in Walmart Canada's newly-built facility to
support retail stores in Western Canada. The GenDrive freezer units
will operate in conditions as low as -20 degrees F (-29
degrees C).
By utilizing GenDrive-powered lift trucks from the design stage,
costs associated with installing, maintaining and operating
traditional lead-acid battery systems are avoided. The decision to
move forward with hydrogen-powered trucks and supporting
infrastructure at the start allows for the possibility of future
use at other existing sites.
In addition to lower operating costs, GenDrive allows for
productivity increases, as material handling vehicles maintain
maximum power and speed during an entire shift. Units can be
refueled in less than two minutes, minimizing lost
productivity.
Most importantly, the use of GenDrive hydrogen fuel cells
provides companies with a power solution that aligns with
environmental initiatives. With a possible greenhouse gas (GHG)
emissions reduction of up to 72%, compared to batteries charged
from the grid, GenDrive supports a sustainable operation.
"Plug Power is thrilled our GenDrive fuel cell product is
helping Walmart Canada's Alberta facility become one of the most
energy-efficient distribution facilities of its kind in North
America," said Plug Power's CEO, Andy Marsh. "Plug Power's complete
product suite allowed Walmart to implement the GenDrive solution
throughout its entire fleet. The commercial economics make sense
and we believe customers see the benefits this progressive solution
brings to its operations."
"Crown's substantial research and development of fuel cell
forklifts are focused on designs and applications customized to our
customers' unique requirements," said Jim Moran, senior vice
president, Crown Equipment. "There are measurable benefits, such as
cost savings and increased productivity, which can be achieved by
using fuel cells in forklifts within certain applications. We
appreciate the opportunity to collaborate with Walmart in its
efforts to realize these benefits in its Canada facility."
The systems are expected to begin shipping in June and will be
operational at Walmart Canada in fall of 2010.
About Plug Power Inc.
The architects of modern fuel cell technology, Plug Power
revolutionized the industry with cost-effective power solutions
that increase productivity, lower operating costs and reduce carbon
footprints. Long-standing relationships with industry leaders
forged the path for our key accounts, including Wegmans, Whole
Foods, and FedEx Freight. With more than 1,000 units in the
field and over 1.5 million hours of runtime, Plug Power
manufactures tomorrow's incumbent power solutions today. Visit us
at www.plugpower.com.
The Plug Power Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4446
Plug Power Inc. Safe Harbor
Statement
This communication contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. We believe that it is important to communicate our future
expectations to our investors. However, there may be events in the
future that we are not able to accurately predict or control and
that may cause our actual results to differ materially from the
expectations we describe in our forward-looking statements,
including, without limitation, statements regarding the risk that
unit orders will not ship, be installed and/or convert to revenue,
in whole or in part; the cost and timing of developing our products
and our ability to raise the necessary capital to fund such
development costs; we may be unable to achieve the forecasted gross
margin on the sale of our products; our actual net cash used for
operating expenses may exceed the projected net cash for operating
expenses; the cost and availability of fuel and fueling
infrastructures for our products; market acceptance of our GenDrive
and GenSys systems; our ability to establish and maintain
relationships with third parties with respect to product
development, manufacturing, distribution and servicing and the
supply of key product components; the cost and availability of
components and parts for our products; our ability to develop
commercially viable products; our ability to reduce product and
manufacturing costs; our ability to successfully expand our product
lines; our ability to improve system reliability for both GenDrive
and GenSys; competitive factors, such as price competition and
competition from other traditional and alternative energy
companies; our ability to manufacture products on a large-scale
commercial basis; our ability to protect our intellectual property;
the cost of complying with current and future governmental
regulations; the impact of deregulation and restructuring of the
electric utility industry on demand for Plug Power's energy
products; and other risks and uncertainties discussed under "Item
IA-Risk Factors" in our annual report on Form 10-K for the fiscal
year ended December 31, 2009, filed with the Securities and
Exchange Commission ("SEC") on March 16, 2010, and the reports we
file from time to time with the SEC. We do not intend to and
undertake no duty to update the information contained in this
communication.
CONTACT: Plug Power Inc.
Media Contact:
Reid Hislop
(518) 782-7700 ext. 1360
Investor Relations Contact:
Cathy Yudzevich
(518) 782-7700 ext. 1448
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